Hey Guys,
The market continues to gravitate upward overall. The S&P 500 is right in range of the 5,000 price point. It will be fun to see how the market reacts to such a major psychological price level.
I had more trades reach profit targets since my last email. My VEEV stock position hit its profit target yesterday. My MRVL option position and my last remaining ZS stock position both reached their profit targets this morning.
MRVL and ZS were both fun ones. In the case of MRVL, yesterday it was at breakeven when I emailed in the morning, and just one morning later it hit the profit target. And with ZS, that one took a lot of heat right after I took the trade and went half way to its stop loss, then turned around and went all the way back up to the profit target.
Those trades are great examples of how you never know what's going to happen next in the market, and a trade isn't over until it's over. That's why I try to stay patient with trading and let these positions run their course, wherever it may lead.
I picked up some new positions today. In the main account, I bought stock for Citi as well as options for VZ. In the options account, I bought the options for Citi. In the double down account, I bought another helping of VZ stock.
That VZ positions have gone against me since my entry. Let's see if this one has any bounce in it and if patience will reward me like it did with those others.
I have a couple option positions that reached their time limits today. I'll be manually closing those near the end of the trading session today unless they reach their profit targets first.
If you have any questions or feedback, I'd love to hear from you.